Russian drug group OAO Protek Wednesday set the indicative price range for its initial public offering from $3.10 to $4.50 a share, adding that it expect to sell $400 worth of stock. Around half of the sum raised will go to existing shareholders.

Pharmstandard is about to purchase an 11.3-percent stake in the Latvian pharmaceutical concern Grindex, the Russian company indicated in a statement today.

The Slovak Academy of Sciences will certify the antiviral drug Triazavirin for its use in Europe. The unique drug has been developed by the scientists of the Urals Branch of the Russian Academy of Sciences.

Gerresheimer AG has set up a sales office in Moscow. The new representation centre will intensify the Group's business in pharmaceutical primary packaging and drug-delivery systems.

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